IMPLEMENTATION LEVEL

Subnational

AFFECTED FLOW

Inflow

ANNOUNCED AS TEMPORARY

No

NON-TRADE-RELATED RATIONALE

No

ELIGIBLE FIRMS

firm-specific

JUMBO

No

TARIFF PEAK

No
← back to the state act
Inception date: 01 Apr 2014 | Removal date: open ended
Still in force

Tax or social insurance relief

State and local governments in Florida provided $471,005,000 in incentives to Northrup Grumman in 2014 for an aerospace production facility expansion. The package includes an estimated $450 million that the company will save over 50 years through local property tax exemptions; $20.8 million grant from the state's Quick Action Closing Fund; and $205,000 grant from Brevard County to cover impact fees. Space Florida, a state economic development agency, will build and equip a complex, which Northrop Grumman will lease from the agency (as a tenant of the state entity the company will be exempt from paying local property taxes). In addition, Melbourne City Council agreed "not to challenge the company's pursuit of a full tax exemption" for new and renovated buildings, parking, and personal property. 
 
The GTA includes state guarantees and other financial incentives thatare likely to affect the restructuring and performance of firms facinginternational competition, whether from imports, in export markets, andfrom foreign subsidiaries.

AFFECTED COUNTRIES

MAP
TABLE
EXPORT

AFFECTED SECTORS AND PRODUCTS

496 Aircraft & spacecraft; parts
8802 Other aircraft (for example, helicopters, aeroplanes); spacecraft (including satellites) and suborbital and spacecraft launch vehicles.
880211 Of an unladen weight not exceeding 2,000 kg
880212 Of an unladen weight exceeding 2,000 kg
880220 Aeroplanes and other aircraft, of an unladen weight not exceeding 2,000 kg
880230 Aeroplanes and other aircraft, of an unladen weight exceeding 2,000 kg but not exceeding 15,000 kg
880240 Aeroplanes and other aircraft, of an unladen weight exceeding 15,000 kg

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